caribbean , cbi , cip , citizenship-by-investment , club , dominica , policy-updates

Dominica CIU Circulates Details, Prices for New Dependent Categories

July 11, 2020

In a letter circulated to authorized agents yesterday, Dominica’s CIU gives a detailed account of the changes it’s made to the CIP’s investment and fee amounts, as well as the definition of dependents.

News of a widening of the definition of dependents was heralded already two weeks ago but the fee structure corresponding to the changes are only now finalized.

Among the notable changes is that the contribution amount for a family of four is now US$175,000, down from US$200,000, and that siblings may now be included in a contribution-option application for an additional contribution of either US$50,000 (for those aged 18-25). Several other minor changes were also included in the circular, which we have reprinted in full below:

Please be advised that, with the coming into force of the Commonwealth of Dominica Citizenship by Investment (Amendment) Regulations, 2020, significant changes have been implemented to enhance Dominica’s Citizenship by Investment Programme.

The changes have the primary effect of broadening the definition of ‘dependant’ under the Citizenship by Investment Programme, as well as expanding the opportunities for family members of investors who have already obtained economic citizenship. They also make adjustments to investment and fee requirements.

I. Definition of ‘Dependant’
Please be advised that the following persons are now eligible to be included as dependants under the Programme:

  • A spouse of the main applicant
  • Children of the main applicant or of the spouse of the main applicant who are below the age of 18
  • Children of the main applicant or of the spouse of the main applicant who are aged 18 to 30 and who are substantially supported by the main applicant or the spouse of the main applicant
  • Children of the main applicant or of the spouse of the main applicant who are aged 18 years or over and physically or mentally challenged and who are substantially supported by the main applicant or the spouse of the main applicant
  • Parents or grandparents of the main applicant or of the spouse of the main applicant who are substantially supported by the main applicant or the spouse of the main applicant, or the spouse of any such parent or grandparent
  • Biological or legally adopted siblings of the main applicant or of the spouse of the main applicant who are aged 18 to 25, single, childless, and who are substantially supported by the main applicant or the spouse of the main applicant
  • Biological or legally adopted siblings of the main applicant or of the spouse of the main applicant who are below the age of 18, single, childless, substantially supported by the main applicant or the spouse of the main applicant, and in receipt of consent to make an application under the Programme from all individuals with parental responsibility for that sibling

Kindly be advised that the category for “unmarried daughters” has been removed, as this is now encompassed by the category for adult children.

II. Investments and Fees

a. Direct Monetary Investment

The following are now payable under the direct monetary investment (commonly referred to as the ‘contribution to the EDF’) arm of the Programme:

  • Main applicant: US$100,000
  • Spouse of the main applicant: US$50,000
  • Sibling of the main applicant or of the spouse of the main applicant aged 18 to 25: US$50,000
  • Any dependant other than the spouse of the main applicant or a sibling of the main applicant or of the spouse of the main applicant who is aged 18 to 25: US$25,000 each

Except that US$175,000 shall be sufficient for a family of four including the main applicant, the spouse of the main applicant, and two other dependants other than a dependant who is a sibling of the main applicant or of the spouse of the main applicant.

Note, therefore, that if a family composed of a main applicant and his or her spouse, child, mother, and sibling aged 25 were to apply for citizenship through a direct monetary contribution, the contribution amount required would be: US$225,000 (US$175,000 + US$50,000)

b. Real Estate Investment and Government Fees

The following are now payable in Government Fees for applicants under real estate arm of the Programme:

  • Main applicant: US$25,000
  • Family of up to four persons, including the main applicant and up to three dependants but excluding any dependant who is a sibling of the main applicant or of the spouse of the main applicant: US$35,000
  • Family of up to six persons, including the main applicant and up to five dependants but excluding any dependant who is a sibling of the main applicant or of the spouse of the main applicant: US$50,000
  • Family of seven persons or more, including the main applicant and at least six dependants but excluding any dependant who is a sibling of the main applicant or of the spouse of the main applicant: US$70,000
  • A sibling of the main applicant or of the spouse of the main applicant aged 18 to 25: US$50,000
  • A sibling of the main applicant or of the spouse of the main applicant below the age of 18: US$25,000

Please note that the minimum threshold for real estate investments remains US$200,000.

Please also note, therefore, that if a family composed of a main applicant and his or her spouse, child, mother, and sibling aged 25 were to apply for citizenship through a real estate investment, the following payments would need to be made:

  • Minimum investment: US$200,000
  • Government Fees: US$85,000 (US$35,000 + US$50,000)

c. Remaining Fees

All remaining fees are unchanged. Therefore, the following fees continue to apply under both arms of the Programme:

  • Processing Fee: US$1,000 (per application)
  • Certificate of Naturalisation Fee: US$250 (per applicant)
  • Due Diligence Fee for the main applicant: US$7,500
  • Due Diligence Fee for a dependant aged 16 or over: US$4,000

III. Post-Citizenship Additions

Please be advised that Dominica now allows for the following post-citizenship additions to be made under the Programme:

a. New Born or Adopted Children

Children born or adopted after citizenship was obtained, subject to the following fees:

  • Processing Fee: US$500
  • Certificate of Naturalisation Fee: US$250

Note that children born or adopted after citizenship was obtained can now be registered at all times and not merely within five years of birth.

Further note that an application for the post-citizenship addition of such children can be made by all persons who obtained citizenship through the Programme.

b. Spouses Married After Citizenship

Spouses married after the original application was made, at a cost of US$75,000 plus the following fees:

  • Processing Fee: US$1,000
  • Due Diligence Fee for the original applicant (if submitted more than 1 year after the date of submission of the original application): US$7,500
  • Due Diligence Fee for the spouse: US$4,000
  • Certificate of Naturalisation Fee: US$250

Note that an application for the post-citizenship addition of such spouses can be made by all persons who obtained citizenship through the Programme.

c. Pre-Existing Dependants

Any dependant who would have qualified as a dependant at the time the original application was made at a cost of US$75,000 for the spouse, US$75,000 for a dependant who is a sibling of the main applicant or of the spouse of the main applicant aged 18 to 25, and US$50,000 for a dependant other than the spouse or a sibling of the main applicant or of the spouse of the main applicant aged 18 to 25, plus the following fees:

  • Processing Fee: US$1,000
  • Due Diligence Fee for the original applicant (if submitted more than 1 year after the date of submission of the original application): US$7,500
  • Due Diligence Fee for each pre-existing dependant aged 16 or over: US$4,000
  • Certificate of Naturalisation Fee: US$250 per pre-existing dependant

Except that, where an application is submitted within one year of the granting of citizenship the following shall be sufficient:

  • A cost of US$50,000 for the spouse, US$50,000 for a dependant who is a sibling of the main applicant or of the spouse of the main applicant aged 18 to 25, and US$25,000 for a dependant other than the spouse or a sibling of the main applicant or of the spouse of the main applicant aged 18 to 25, plus the following fees:
  • Processing Fee: US$1,000
  • Due Diligence Fee for the original applicant (if submitted more than 1 year after the date of submission of the original application): US$7,500
  • Due Diligence Fee for each pre-existing dependant aged 16 or over: US$4,000
  • Certificate of Naturalisation Fee: US$250 per pre-existing dependant

Note that post-citizenship additions of pre-existing dependants are not limited to cash investments but apply to all means of obtaining citizenship through the Programme.

Further note that an application for the post-citizenship addition of pre-existing dependants can only be made by the original main applicant.

IV. Application Forms and Documentary Requirements
Please be advised that the following is now applicable under the Programme:

  1. Main applicants providing a sworn affidavit of support for dependants aged 18 or over included in the application must indicate whether such dependants are supported by the main applicant or the main applicant’s spouse.
  2. Letters from a competent authority confirming enrolment at an institution of higher learning need no longer be notarised and instead must be signed and stamped by the competent authority. Please note that, while attendance at an institution of higher learning is no longer a requirement for children aged 18-30 to qualify as dependants, those who are currently in a recognised institution of higher learning must still submit either official transcripts from that institution of higher learning or a letter from the competent authority confirming enrolment.

Please be further advised that:

  1. Where one parent has sole custody of a child who is below the age of 18, or another person has legal guardianship of that child, the parent or person with custody or guardianship of the child has a duty to sign the application forms on the child’s behalf.
  2. For adult disabled dependants who lack the capacity to sign the application forms by virtue of their disability, the person with the legal right to act on behalf of that dependant must sign the application forms on the dependant’s behalf. Appropriate legal documentation must also be provided to demonstrate that person’s right.
    Please contact the Citizenship by Investment Unit if you have any queries on the above at cbiu@dominica.gov.dm.

Want to know more about the Dominica Citizenship by Investment Program? To see recent articles, statistics, official links, and more, please visit its Program Page. To see which firms can assist with applications to the program, visit the Residence & Citizenship by Investment Company Directory.

More From the Caribbean

Dominica’s CIU has circulated the changes to the CIP’s investment and fee amounts, as well as the definition of dependents.

Four out of five Caribbean CIPs have now enacted significant changes to their requirements in direct response to the pandemic.

The pandemic has slowed the real estate market globally, except for real estate connected to citizenship by investment programs.

 

Properties that can qualify the buyer for citizenship in Dominica:

See more properties that come with residence/citizenship opportunities in IMI Real Estate.

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The post Dominica CIU Circulates Details, Prices for New Dependent Categories appeared first on Investment Migration Insider.